Long Term Capital gain computation - interest capitalized to ...

Interest Capitalization Allowed for Long-Term Capital Gains Calculation on Property Purchased with Borrowed Capital per Assessing Officer.

November 24, 2020

Case Laws Income Tax AT

Long Term Capital gain computation - interest capitalized to cost of asset - It is not in dispute that the property was acquired by a borrowed capital initially borrowed from the relatives of the Directors. Thereafter, the loan taken from such persons was repaid out of the loan received from ICICI bank. - it cannot be construed that there is no nexus between the acquisition of the property and the utilization of the capital so borrowed. - AO hereby directed to allow capitalization of interest - AT

View Source

← Previous Next →

Long Term Capital gain computation - interest capitalized to ...

Interest Capitalization Allowed for Long-Term Capital Gains Calculation on Property Purchased with Borrowed Capital per Assessing Officer.

November 24, 2020

Case Laws Income Tax AT

You may also like:

Regarding long-term capital gain determination, indexed cost of acquisition claimed by assessee at Rs. 45 lakhs for property valued over Rs. 45 lakhs, evidenced by...

Entitled to claim long term capital gain on transfer of rights in the Flats - Deduction u/s 54 against capital gains arising out of sale of flats - the right over the...

LTCG or STCG - Sale of ground floor of residential unit - whether it give rise to long term capital gains or short term capital gains - Computation from period of...

Long term capital gain - sub-tenancy right - the assessee had a sub-tenancy right in the property and upon surrender thereof, the assessee received a sum which was...

Setting off the long term capital loss arising on sale of shares not subject to STT against long term capital gain arising from sale of Shares subjected to STT exempt...

Exemption u/s 54EC - Assessee has not been able to raise any material contention to dispute this position. He has only submitted that the assessee wanted to invest the...

Addition on account of long-term capital gain on sale of properties - VO had applied CPWD rate whereas he should have applied PWD rates and should have allowed...

ITAT ruled on long-term capital gains from unlisted shares under India-Mauritius DTAA, specifically addressing loss carry-forward without offsetting against capital...

Capital gain from sale of commercial property - intra-head adjustment of loss - Benefit of carry forward of long term capital loss on the sale of shares for the current...

Long Term Capital Gains (LTCG) or Short Term Capital Gains (STCG) - The conversion of the rights of the lessee in the property from having lease hold right into free...

Revision u/s 263 by CIT - Wrong claim of carry forward of long term capital loss - the long term capital gain, which is exempted under section 10(38) of the Act, would...

Rate of tax on sale of depreciable assets - STCG vs LTCG - as per Section 112 of the Act, the tax on long term capital gains on transfer of a long term capital asset is...

Capital gains taxation streamlined with short-term gains on certain financial assets attracting 20% tax and long-term gains on all assets attracting 12.5% tax. Exemption...

Set off of long term capital loss from sale of shares off market against the long term capital gain on sale of land allowed.

Denial of carry forward of long term capital loss - When the he taxed the difference in amount under short term capital gain and also disallowed short term capital loss...

Quick Updates: